KARACHI – Pakistan’s leading automaker Suzuki has announced another plant shutdown in the current economic crisis as the company is struggling to import raw materials in the wake of severe curbs imposed by the incumbent government.
In a notice to Pakistan Stock Exchange, Pak Suzuki maintained that its automobile and motorcycle plants will shut down from June 22 to July 8, 2023, and operations will remain suspended during the two-week period.
Pak Suzuki’s notice said, “Due to shortage of inventory level, the management of the company has decided to shut down motorcycle and automobile plant from June 22, 2023 to July 8, 2023”.
Pakistan’s auto industry is in hot waters due to import curbs as carmakers are offering customers to cancel bookings and claim refunds. Amid staggering price hikes, the sales of several vehicles including Suzuki also affected.
All big players of the auto industry are under the severe impact of economic meltdown as the country’s auto sector is dependent on imports and remained under stress amid the shocking depreciation of the rupee.
Data shared by Pakistan Automotive Manufacturers Association revealed that vehicle sales nosedived by 80 percent year-on-year last month.
